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RESTRUCTURING (Tables) | 9 Months Ended
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Sep. 30, 2024
Restructuring and Related Activities [Abstract] |
Schedule of Restructuring Expense by Reportable Segment | The following tables display the Company’s restructuring expense by reportable segment:
| Three Months Ended September 30, 2024
(in millions) | Turbos & Thermal Technologies |  | Drivetrain & Morse Systems |  | PowerDrive Systems |  | Battery & Charging Systems |  | Corporate |  | Total
Employee termination benefits | $ | 7 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 8 |
Other | 8 |  |  | — |  |  | 5 |  |  | — |  |  | — |  |  | 13 |
Total restructuring expense | $ | 15 |  |  | $ | 1 |  |  | $ | 5 |  |  | $ | — |  |  | $ | — |  |  | $ | 21 |
| Three Months Ended September 30, 2023
(in millions) | Turbos & Thermal Technologies |  | Drivetrain & Morse Systems |  | PowerDrive Systems |  | Battery & Charging Systems |  | Corporate |  | Total
Employee termination benefits | $ | 53 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 54 |
Other | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 2 |
Total restructuring expense | $ | 54 |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 56 |
| Nine Months Ended September 30, 2024
(in millions) | Turbos & Thermal Technologies |  | Drivetrain & Morse Systems |  | PowerDrive Systems |  | Battery & Charging Systems |  | Corporate |  | Total
Employee termination benefits | $ | 16 |  |  | $ | 10 |  |  | $ | 10 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 38 |
Other | 14 |  |  | 1 |  |  | 12 |  |  | — |  |  | — |  |  | 27 |
Total restructuring expense | $ | 30 |  |  | $ | 11 |  |  | $ | 22 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 65 |
| Nine Months Ended September 30, 2023
(in millions) | Turbos & Thermal Technologies |  | Drivetrain & Morse Systems |  | PowerDrive Systems |  | Battery & Charging Systems |  | Corporate |  | Total
Employee termination benefits | $ | 60 |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 63 |
Other | 4 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 5 |
Total restructuring expense | $ | 64 |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 68 |
Schedule of Restructuring Reserve of Roll Forward of the Restructuring Liability | The following tables display rollforwards of the restructuring liability recorded within the Company’s Condensed Consolidated Balance Sheets and the related cash flow activity:
(in millions) | Employee Termination Benefits |  | Other |  | Total
Balance at January 1, 2024 | $ | 68 |  |  | $ | 7 |  |  | $ | 75 |
Restructuring expense, net | 38 |  |  | 27 |  |  | 65 |
Cash payments | (54) |  |  | (30) |  |  | (84) |
Foreign currency translation adjustment and other | — |  |  | 2 |  |  | 2 |
Balance at September 30, 2024 | 52 |  |  | 6 |  |  | 58 |
Less: Non-current restructuring liability | 8 |  |  | — |  |  | 8 |
Current restructuring liability at September 30, 2024 | $ | 44 |  |  | $ | 6 |  |  | $ | 50 |
(in millions) | Employee Termination Benefits |  | Other |  | Total
Balance at January 1, 2023 | $ | 39 |  |  | $ | 9 |  |  | $ | 48 |
Restructuring expense, net | 63 |  |  | 5 |  |  | 68 |
Cash payments | (32) |  |  | (9) |  |  | (41) |
Foreign currency translation adjustment and other | (1) |  |  | 2 |  |  | 1 |
Balance at September 30, 2023 | 69 |  |  | 7 |  |  | 76 |
Less: Non-current restructuring liability | 7 |  |  | — |  |  | 7 |
Current restructuring liability at September 30, 2023 | $ | 62 |  |  | $ | 7 |  |  | $ | 69 |

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- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.b.2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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